Algorand Foundation announced 250M ALGO Grants Program

Algorand Foundation has announced a new Grant Program in a bid to support and attract developers to its ecosystem. By providing this initial support, the Grant is meant to incentives individuals who plan on establishing their own project, dapps and service. A total of 250M ALGO (worth $44M) has been set aside and allocated to the grant, whilst the Algorand Foundation is set to contribute $50M USD towards building the ecosystem, enhancing its role in fostering commitment and participation within the Algorand community.

By supporting a wide-range of project within their own specific categories, Algorand aims to create a more democratic setting for a wide range of applications and services. Those interested in deploying decentralized application on top of Algorand’s blockchain, can request and may become eligible for funding – You’ll get paid for your contribution and research. The grant is meant to fund application development, tools & infrastructure, research, education and community engagement efforts that would go on to fuel the growth of the Algorand ecosystem. Developers portal was set up to further share resources & useful tools needed to build application using one of the supported programming languages; JavaScript, Python, Java & GoLang.

Algorand Foundation Head of Operations, Fangfang Chen has shared his optimistic feedback surrounding the Grant:

“We are thrilled to announce the 250M ALGO Grants Program, which is designed to support innovation that helps to grow the Algorand ecosystem,”

Further hinting that Algorand’s should be the de-facto blockchain platform for those seeking a public and permissionless, proof of stake blockchain. The grant is meant to accelerate the developments and assures that Algorand foundation has prioritized the development of its ecosystem by working towards creating a more sustainable and growing community

There are 4 types of Grants;

Research Proposal – Funding of innovative research directions with potentially major contributions to the long term success of Algorand and any other blockchain ecosystems.

Development Tools and Infrastructure – Tools and infrastructure components to support development over the Algorand blockchain and its use. These tools and components should make the Algorand network easily accessible to developers and system builders.

Applications & Use Cases – Grants for projects building and deploying applications targeting a variety of real-world use-cases and demonstrating high potentials for driving mainstream adoption and enabling borderless economy.

Education & Community – Supporting educational efforts that drive awareness of open-source, decentralized technologies and their impact on business and society. We also support community led initiatives that strengthen and grow the Algorand community.

For more information, regarding the type of Grants available: https://algorand.foundation/grants-program

The Grant Program will support projects by connecting both the community with the Algorand Foundation who will provide the necessary access & support to Algorand’s mesh of products and initiatives. This could have not come at a better time with half of the world on lock-down due to the COVID19 outbreak, developers are encouraged to continue working and build innovative decentralized applications. The Foundation intends to make the Algorand’s network easily accessible to developers and are now looking to bootstrap a digital economy – welcoming thought-leaders and developers to come build on top of Algorand.